Real Estate Agreement

Agreement for the Purchase and Sale of Real Estate -- Transfer of Title from One Joint Owner to Other Joint Owner

Agreement made on the (date), between of , referred to herein as Seller, and of , referred to herein as Buyer.

For and in consideration of the mutual covenants contained in this Agreement, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

1. Agreement to Sale and Purchase. Seller agrees to sell, and Buyer agrees to buy from Seller all of Seller’s right, title and interest in the real property described in Exhibit A attached hereto and made a part hereof; together with the following items, if any: curtains and rods, draperies and rods, valances, blinds, window shades, screens, shutters, awnings, wall-to-wall carpeting, mirrors fixed in place, ceiling fans, attic fans, mail boxes, television antennas and satellite dish system with controls and equipment, permanently installed heating and air-conditioning units, window air-conditioning units, built-in security and fire detection equipment, plumbing and lighting fixtures including chandeliers, water softener, stove, built-in kitchen equipment, garage door openers with controls, built-in cleaning equipment, all swimming pool equipment and maintenance accessories, shrubbery, landscaping, permanently installed outdoor cooking equipment, built-in fireplace screens, artificial fireplace logs and all other property owned by Seller and attached to the Seller’s interest in the above described real property. All property sold by this Agreement is called the Property.

Property description:

2. SALE PRICE: The parties agree to the following sales price: $ cash.

3. PROPERTY CONDITION: Buyer hereby represents that he/she has personally inspected and examined the above-mentioned Property and all improvements thereon. Buyer hereby acknowledges that unless otherwise set forth in writing elsewhere in this Agreement neither Seller nor Seller's representatives, if any, have made any representations concerning the present or past structural condition of the improvements. Buyer and Seller agree to the following concerning the condition of the Property:

4. SELLER’S DISCLOSURE OF LEAD-BASED PAINT AND LEAD-BASED PAINT HAZARDS is required by Federal law for a residential dwelling constructed prior to 1978. An addendum providing such disclosure is not applicable.

5. ENERGY EFFICIENCY: Buyer waives receipt of the Florida Building Energy-Efficiency Rating System brochure. Waiver acknowledged

6. RADON GAS: Radon is a naturally occurring radioactive gas that, when it has accumulated in a building in sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of radon that exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding radon and radon testing may be obtained from your county public health unit. Buyer may, within the Inspection Period, have an appropriately licensed person test the Property for radon. If the radon level exceeds acceptable EPA standards, Seller may choose to reduce the radon level to an acceptable EPA level, failing which either party may cancel this Agreement.

7. PERMITS DISCLOSURE: Except as may have been disclosed by Seller to Buyer in a written disclosure, Seller does not know of any improvements made to the Property which were made without required permits or made pursuant to permits which have not been properly closed.

8. MOLD: Mold is naturally occurring and may cause health risks or property damage. If Buyer is concerned about mold, or desires additional information regarding mold, Buyer should contact an appropriate professional.

9. FLOOD ZONE: No survey is required and Buyer has been advised to verify with appropriate government agencies which flood zone the property is in, whether flood insurance is required, and what restrictions apply to improving the property and rebuilding in the event of loss.

10. SELLER DISCLOSURE: Seller knows of no facts materially affecting the value of the Property which are not readily observable and which have not been disclosed to Buyer.

11. HOMEOWNERS’ ASSOCIATION: If membership in a homeowners' association is mandatory, an association disclosure summary is attached and incorporated into this Agreement. BUYER SHOULD NOT SIGN THIS AGREEMENT UNTIL BUYER HAS RECEIVED AND READ THE DISCLOSURE SUMMARY.
Membership in a homeowners’ association is mandatory Buyer waives the disclosure summary required by Section 720.401, Florida Statutes

12. TAX DISCLOSURE SUMMARY pursuant to Florida Statutes 689.261: BUYER SHOULD NOT RELY ON THE SELLER'S CURRENT PROPERTY TAXES AS THE AMOUNT OF PROPERTY TAXES THAT THE BUYER MAY BE OBLIGATED TO PAY IN THE YEAR SUBSEQUENT TO PURCHASE.

13. CLOSING: The closing of the sale will be on or before , unless extended pursuant by mutual agreement of the parties.

14. TITLE: Seller will convey marketable title to the Property by statutory deed. Evidence of title has been provided to Buyer by Seller in accordance with Florida law.

15. APPRAISAL AND TERMITE INSPECTION: Any appraisal of the property shall not be required. A termite inspection is not required.

16. POSSESSION AND TITLE: Seller shall deliver possession of the Property to Buyer at closing. Prior to closing the property shall remain in the possession of Seller and Seller shall deliver the property to Buyer in substantially the same condition at closing, as on the date of this Agreement, reasonable wear and tear excepted.

17. PRORATIONS: Taxes for the current year, interest, maintenance fees, assessments, dues and rents, if any, will be prorated through the Closing Date.

18. CASUALTY LOSS: If any part of the Property is damaged or destroyed by fire or other casualty loss after the effective date of the Agreement, Buyer may either terminate this Agreement extend the time for performance and the Closing Date will be extended as necessary accept the Property in its damaged condition and accept an assignment of insurance proceeds.

19. DEFAULT: If Buyer fails to comply with this Agreement, Buyer will be in default, and Seller may either enforce specific performance, seek such other relief as may be provided by law, or both.

20. REPRESENTATIONS: Seller represents that as of the Closing Date (a) there will be no liens, assessments, or security interests against the Property which will not be satisfied out of the sales proceeds unless securing payment of any loans assumed by Buyer and (b) assumed loans will not be in default. If any representation in this Agreement is untrue on the Closing Date, this Agreement may be terminated by Buyer.

All representations contained in this Agreement will survive closing.

WITNESS our signatures as of the day and date first above stated.

THIS PAGE IS NOT PART OF THE AGREEMENT. IT IS PROVIDED BY USLF TO AID THE SELLER IN COMPLYING WITH FEDERAL LEAD-BASED PAINT DISCLOSURE LAW, FOR HOUSES BUILT PRIOR TO 1978.

IMPORTANT!!!

NOTES CONCERNING LEAD-PAINT DISCLOSURE REQUIREMENTS.

Introduction: If the dwelling was constructed PRIOR TO 1978, federal law REQUIRES a Lead-Based Paint Disclosure Form to be attached to the sale Agreement, completed and signed by the seller and purchaser. If the dwelling was constructed in 1978 or later, this form is not required. If in doubt about the timing of construction, use the disclosure form.

Background: To protect families from exposure to lead from paint, dust, and soil, Congress passed the Residential Lead-Based Paint Hazard Reduction Act of 1992. HUD and EPA require the disclosure of known information on lead-based paint and related hazards before the sale of most housing built before 1978.

Requirements: Before the sale Agreement becomes enforceable, sellers must fully comply with lead-paint disclosure law. Compliance is accomplished by:

• Fully completing and delivering to the buyers, as an attachment to the Agreement, the LEAD-BASED PAINT DISCLOSURE form (the buyers also initial and sign this form), and
• Giving the buyers the EPA pamphlet entitled "Protect Your Family From Lead In Your Home."

Purchase the Disclosure Form: If you need to purchase a Lead-Based Paint Disclosure Form, you can easily do so using USLF. http://www.uslegalforms.com/lead-paint-disclosure-forms.htm

The Free EPA Pamphlet: The seller must give the buyer the EPA-approved information pamphlet on identifying and controlling lead-based paint hazards entitled "Protect Your Family From Lead In Your Home." You may obtain and print this pamphlet free by clicking the following download link: https://www.epa.gov/lead